Blasutti said that, ���we are
particularly excited about
the increasing potential of
the Caladay Zone. These
new areas will enable
us to take advantage of
our additional hoisting
and milling capacity to
increase production in
2014 and beyond, with
modest capital outlays.���
of high-grade silver-copper mineralization between the 4,700 and 5,200 Levels.
Recent drill results include 3.7 feet at 65.3
ounces per tonne silver (2,239 grams per
tonne), 5.5 feet at 59.7 ounces per tonne silver (2,047 grams per tonne) and 2.0 feet at
66.2 ounces per ton silver (2,270 grams per
tonne). Additional high-grade silver-lead
mineralization identified in the Caladay
Zone includes 16.8 feet at 25.79 ounces per
ton silver equivalent and 7.5 feet at 23.90
ounces per ton silver equivalent.
Blasutti said that, ���we are particularly
excited about the increasing potential of
the Caladay Zone. These new areas will
enable us to take advantage of our additional hoisting and milling capacity to
increase production in 2014 and beyond,
with modest capital outlays.���
The company has strong liquidity with
a year-end cash balance of approximately
$19 million which will fund the production and exploration activities. n
Stephen P. Mussart is a former Senior Metals
& Mining Equity Research Analyst with eResearch in Toronto.
MARCH 2013
www.resourceworld.com 47
